April 22, 2011

Commodity Market Lead Report single entity may control up to 89%

If we hear to the reports of LME, we get shocked to hear that even a single company has the potential to wield 89% Lead in warehouses under the scanner of LME and the reports reveals that the position is worth $704 million when calculated in current value terms. It is also noted that Tom Banding report has dominant position of 80% to 89% in the market. The commodity lead has largest market in battery production and it is affected after earthquake in japan.

The commodity prices climbed when Ivernia Inc. stopped its Magellan mine in Western Australia and Mitsubishi Materials Corp has to scale up the demand for increase batteries production due to japan earthquake. The Commodity lead climbed  
$63, or 2.5%, to touch $2,620 a metric ton by 1:52 p.m. on the LME. Lead inventories weighed 301,950 tons, the most since March 1995. Backwardation has reportedly perked up the stocks 6%, analysts said. 

Euro news.net had cited traders informing Reuters that Barclays Capital was holding a dominant position in the lead market. The commodity reports for Lead over barclays is that it declined is market rumors. 
Back in December data from London Metal Exchange said of one unidentified company having the potential to hoard 90% of the copper in warehouses valued at $3.5 billion, the largest such position in two years. 

The commodity report of LME over Warrant Tom Banding had recorded more than 90% of copper holdings on November 7, 2008 indicating a dominant position in LME. 

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